Christie’s ONE Auction to sell Lucio Fontana’s Concetto Spaziale, Attesa – Crain’s New York Business

Collectors turn to auctions to get their hands on masterpiece-level works before museums grab them first. The question is whether they will still be clamoring for exclusive artwork after a global pandemic.

Christie’s is betting they will and hopes to prove it with the sale of Concetto Spaziale, Attesa by Lucio Fontana, a rare work estimated to sell for as much as $10.5 million, at its ONE sale July 10.

It has all the hallmarks of an enticing piece for an art collector. It’s one of two remaining pieces of its kind not held in a museum, and it has not been seen publicly since the 1970s. 

“This work can be considered to be a genuine masterpiece as it possesses three of the most desirable features that Fontana collectors are looking for: the size, it’s one of the six biggest single slashes he ever made; the color, red paintings and white paintings are the most sought after works; the single perfect surgical cut,” said Mariolina Bassetti, chairman of postwar and contemporary art for Continental Europe at Christie’s.

“Basically, the first Fontana any collector will pursue is a single slash executed in red or white,” Bassetti said.  

But it comes up for sale at a time where the art market is facing some daunting cracks. A May report from the research firm ArtTactic found that confidence in the contemporary art